Bill > S3702

This bill creates a State contract set-aside program for businesses owned and operated by persons with disabilities. The key provisions include: - Defining key terms such as "disability-owned business enterprise" and "disability-owned business enterprise set-aside contract". - Requiring the Department of the Treasury to administer the set-aside program and establish goals for agencies to award at least 3% of their contracts to disability-owned businesses. - Allowing contracting agencies to designate contracts or portions of contracts as set-aside for disability-owned businesses if there is a reasonable expectation of receiving bids from at least 3 qualified businesses. - Establishing procedures for the Department to designate, review, and challenge the status of disability-owned businesses. - Requiring contracting agencies to report annually on their progress in meeting the set-aside goals. - Imposing penalties on businesses that fraudulently obtain set-aside contracts. - Directing the Department to develop additional regulations to implement the program.

Government Affairs

https://www.njleg.state.nj.us/bill-search/2022/S3702